BIR Ruling No. 263-2022

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No: BOI- LEH

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

housing project, Lumina Residences Calumpit -- Brgy. Buguion, Calumpit, Bulacan consisting of 766 house and lot units used solely for family home or dwelling purposes, located at Brgy. Buguion, Calumpit, Bulacan, a project duly registered with the Board of Investments (BOJ) under Certificate of Registration No. whichever is earlier, but in no case earlier than the date of registration of the project with the BOI, pursuant to Executive Order. (EO) No. 226, Investments Code of 1987" and Section 2.57.5 (B) (2) of Revenue Regulations (RR) No. 2-98, Identification Number (TIN) withholding tax on its income received directly in connection with its economic and low-cost of 4 years beginning from December 2021 or actual start of commercial operations/selling. This certifies that PRIMA CASA LAND & HOUSES, INCl. with Taxpayer is exempt from income tax and creditable date& December 21, 2021, for a period otherwise known as'the "Omnibus

as amended.

below, or house and lot and other residentiai dwellings valued at P3,199,200.00 and below, is shall only apply to sale of house and lot and other fesidential dwellings? VAT-exempt under Section 109(1)(P) of the National Internal Revenue Code (Tax Code) of 1997, as amended. Provided, however, that beginning January 01, 2021, the VAT exemption Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and valued at P3,199,200.003.

registered with the BOI, if any, including those units used for commercial purposes such as leasing, retail stores, offices, etc. shall be subject to the payment of appropriate taxes under the Tax Code of 1997, as amended. However, the sale of house-and lot units in excess of the 766 house and lot units

applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for all other applicable taxes not discussed above. The grant of tax exemption herein is subject to the compliance with the provisions of

that the facts are different, then this Certificate shall be considered null and void. documents as represented and submitted. However, if upon investigation, the BIR ascertains This Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this day of_MAY 2 7 2022

By: Commissioner of Internal Revenue CAESAR R. DULAY

2 Sale of lot only, regardiess of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963. 3 As adjusted using the 2010 Consumer Price Index values pursuant to RR No. 8-2021 dated June 1 1, 2021. K-1-GPS ' Formerly: Lumina Homes, Inc. MARISSA Deputy Commissioner Offictr-in-Charge Leaal Group O1. cabreros 0 8 8 3

Lumina Residences Calumpit page 2 of 2 Date issued.MAY272922 CTE No. bO1-LEF - 2 6 3 -2*C 2 2

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

1. The exemption from income and creditable withholding taxes covers only income directly Buguion, Calumpit, Bulacan, consisting of 766 house and lot units used solely for family home or dwelling purposes located at Brgy. Buguion, Calumpit. Bulacan. Such exemption shall not cover revenues from units with selling price exceeding P attributable to the revenues generated from the project, Lumina Residences Catumpit -- Brgy. and lot units covered by Provisional License to Sell No. than P Der house and lot. ;hall not be sold for more Moreover, the 766 house

The enterprise shall observe the following project timetable:

Total Project Cost Start of Commercial Operations Site Preparation and Development Building/House Construction Mifestone February 2020 -- December 2025 Investment Cost and Schedule January.2020 -- December 2025 December 2021

3. In the cornputation of the project's ITH, interest income from in-house financing shall not be considered as part of the revenues generated from the registered housing project. 4. The Company's entitlement to ITH for its BOI-registered housing project is subject to the compliance with the provisions of the Specific Terms and Conditions of its BOI Registration. 5. Pursuant to Section 4 of Republic Act (RA) No. 107084, the Company is required to file its tax returns and pay its tax liabilities, on or before the deadtine as provided under the Tax Code of 1997. as amended, using the electronic system for filing and payment of taxes of the BIR. It shall file with Joint Memorandum Circular No. 1-2016 dated Septenber 1, 2016. BOI a complete annual tax incentives report of its income-based tax incentives, VAT and duty 226, within the periods prescribed under RA No. 10708's Implementing Rules and Regulations and exemptions, deductions, credits or exclusions from the tax base, as may be provided under EO No.

6. The Company shall be constituted as a withholding agent for the government if it acts as employer and any of its employees received compensation income subject to compensation withholding tax. or if it makes payments to individuals or corporations subject to the withholding taxes as source as required under Chapter XIII and Section 57 of the Tax Code of 1997, as amended, and implemented by RR No. 2-98, as amended.

7. The Company is required to file on or before the 15t"day of the fourth month following the close of its accounting period of a Profit and Loss Statement and Balance Sheet with the Annual Information Return under oath, stating its gross income and expenses incurred during the taxable year.

8. Finally, the Company's books of accounts and other pertinent records shall be subject to periodic it is complying with the conditions under which it has been granted tax exemption or tax incentives and its tax liability, if any, pursuant to Section 235 of the Tax Code of 1997. as amended. examination by revenue enforcement officers of this Bureau for the purpose of ascertaining whether

4 An Act Enhancing Transparency in the Manageme Promotion Agencies. ent and Accounting of Tax Incentives Administered by Investment